Equity : Bajaj Auto up 5% as court OKs demerger; may rise more
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K.Karthik Raja
Feb 19, 2008, 4:50:28 AM2/19/08
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Equity : Bajaj Auto up 5% as court OKs demerger; may rise more
MUMBAI--3:13PM--Bajaj Auto shares rose 5% to 2,321 rupees after
news the Bombay High Court has approved the company's demerger plans.
The stock can rise further up to 2,380 rupees. Under the demerger
scheme announced in May, the group will be split into three separate
entities with the creation of two new companies.
Bajaj Auto, the country's second biggest motorcycle maker, would
be demerged to create the new Bajaj Auto Ltd., Bajaj Holdings &
Investments and Bajaj Finserv Ltd.
Analysts said the news has not come as much of a surprise as it
has been being factored in the stock price for some time now.
The news has been being factored in since Apr-May last year, but
post the demerger we expect a good upside from its insurance business
which has been doing extremely well.
MUMBAI--3:13PM--Bajaj Auto shares rose 5% to 2,321 rupees after
news the Bombay High Court has approved the company's demerger plans.
The stock can rise further up to 2,380 rupees. Under the demerger
scheme announced in May, the group will be split into three separate
entities with the creation of two new companies.
Bajaj Auto, the country's second biggest motorcycle maker, would
be demerged to create the new Bajaj Auto Ltd., Bajaj Holdings &
Investments and Bajaj Finserv Ltd.
Analysts said the news has not come as much of a surprise as it
has been being factored in the stock price for some time now.
The news has been being factored in since Apr-May last year, but
post the demerger we expect a good upside from its insurance business
which has been doing extremely well.
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